Directive transparence : information réglementée

Orléans, 26 March 2020 at 5:45pm CET - Mr.Bricolage SA, which groups together
local independent home improvement and gardening stores, is reporting its
annual results for 2019, which reflect the complete withdrawal from the
directly-owned stores retail business and the definitive realignment around
network services, its longstanding core business. In line with expectations,
the results for 2019 are marked by a significant reduction in operating losses
thanks to the removal of the majority of the directly-owned stores from the
scope and the increase in the volume of business for stores operated by
members-entrepreneurs.

"The transformation and the realignment that we have been preparing for several
years around our core network services business are now being achieved thanks
to the dedication of our members and the commitment shown by all our head
office teams. The results for 2019 show that many indicators are now green:
increase in the volume of business for the network's stores, performances of
the stores modernized with the new concept, development of the network...This
year, more than last year, our brand has attracted new ambitious entrepreneurs
looking to establish themselves with a proximity-based positioning. The brand
is celebrating its 40th anniversary in 2020: 40 years of home improvement and
sharing. We have worked on a major commercial plan to celebrate this
anniversary year with a number of special in-store and online operations, as
well as events to unite the Group together. Faced with the current health
crisis, our priority is to ensure everyone's health and, like all businesses,
we hope to minimize its impact on our development and the implementation of our
roadmap for 2020", explains Christophe Mistou, CEO of Mr.Bricolage SA.

I - KEY DEVELOPMENTS IN 2019

Business volume growth and network development

In France, the volume of business is outperforming the market (+1.8% for the
2019 Banque de France home improvement superstore index(1)) with +2.8% growth
on a like-for-like store basis (restated for the directly-owned stores sold,
currently being sold or planned for closure). Overall, at end-2019, the volume
of business came to EUR1,968.6m, up +1.4% on a like-for-like store basis.

The appeal of the Mr.Bricolage networks is being further strengthened and
development is being ramped up in line with the work carried out to modernize
the brand and the Group. At 31 December 2019, the Group had 778 points of sale
in France and other countries, with a net balance of +14 stores versus 2018. At
31 January 2020, the 61 new members and affiliates brought on board took the
network up to 837 stores.

Finalization of the plan to divest directly-owned stores and realignment around
network services

In 2019, the Group continued moving forward with its realignment around its
longstanding core network services business, rolling out the plan to divest its
65 directly-owned stores. As announced on 30 December, the final sales are
underway. To date, a unanimous majority agreement concerning the support
measures has been signed between the Group and employee representatives from
the five stores(2) that have not found buyers and that are scheduled to close
by summer 2020 (Allonne, Brive-Mazaud, Lexy, La-Roche-sur-Yon and
Montereau-Fault-Yonne).

The Mr.Bricolage Group is now focused exclusively on supporting and developing
the performance of the member and affiliate stores, through its Network
Services business, which represented 86.5% of the Group's turnover in 2019, up
6.2%. Alongside this realignment, the major transformation plan launched 18
months ago for the head office and network is being rolled out to support head
office staff, members and store teams with the development of their activities
and skills.

(1) Source: Banque de France, 12 months to end-December 2019, on a
like-for-like basis.
(2) The Orléans store was closed on 30 January 2020.

REBOND Plan: new store concept's deployment and first benefits

The 4 pillars concept, already deployed in 14 stores to date (10 in 2019), is
proving its relevance, with rapid improvements in performance for the stores
that have been modernized. At the heart of this new concept is the
Collaboration space, a core feature for in-store service, a space for welcoming
and exchanges for customers, hosted by the teams. It illustrates the Group's
proximity-based positioning in all aspects and is currently being put in place
in several other stores.

The brand's robust development and competitiveness have continued to be core
priorities for the Group. In line with the REBOND Plan's ambitions, the renewal
of the offering, the modernization of the information systems and the
deployment of marketing and digital resources have continued to move forward,
taking into consideration the changes made possible by the divestment of the
network of directly- owned stores.

Agreement with banking partners

An agreement with the banking partners to reschedule the syndicated credit
agreement set up in December 2017 was signed on 16 October 2019. All the bank
borrowings for the company Mr.Bricolage SA, including EUR16m of bilateral lines
grouped together within a consolidation loan, have seen their maturity deferred
to December 2026 (instead of December 2023 for the majority of the borrowings).
With the exception of the EUR40m revolving credit, repayable at maturity at
end-December 2026, the repayment schedule for debt will be very gradual from
December 2022. The financial ratios have been reduced and adjusted to enable
the Group to finalize the plan to sell the directly-owned stores and continue
rolling out the REBOND strategic plan, in line with the transformation and
modernization objectives since November 2016.

Transfer to Euronext Growth Paris

Following the General Meeting's approval on 22 January 2020, the Board of
Directors' decision on the same day and the Euronext Listing Board's approval
on 24 February 2020, Mr.Bricolage's ordinary shares were admitted to Euronext
Growth Paris from the start of trading on 24 March 2020. Mr.Bricolage SA is now
listed on a market that is more aligned with its scale and market
capitalization: reducing the operating costs relating to its listing, while
enabling the Group to continue to benefit from the advantages offered by the
financial markets.

Information on the COVID-19 health crisis

Following the announcement of the general lockdown on 16 March 2020, the
Mr.Bricolage Group's leadership team invited the entrepreneurs from its network
in France and around the world to adapt their activities. As of 25 March 2020,
around 25% of the Mr.Bricolage brand points of sale in France are open to the
public with adapted health measures and/or providing a collection service to
enable customers to pick up their online orders. The members of the Group's
other brands are applying various measures which the head office may not
necessarily be aware of.

The five directly-owned stores identified for closure and the five stores in
the process of being sold (Albi, Bidart, Laon, Lunel and Saint Paul les Dax)
have closed to the public. The employees placed on "partial activity" are
invited to respect the lockdown measures. Around 85% of the Group's 806
employees have been placed on partial activity for a renewable 15-day period.
The key support functions are being maintained, working remotely, and a crisis
management unit has been activated.

The Group has already started to reduce its costs throughout this period and to
activate the means of support offered to businesses by the French Ministry for
the Economy. Following this period of very reduced activity, and once the
health conditions allow, the Group will support each entrepreneur and each
employee to resume their activities.

II - 2019 EARNINGS

The audited results were approved by the Board of Directors on 26 March 2020.
The statutory auditors' reports are currently being issued. The 2019 business
and turnover press release was published on 26 February 2020.

Application of IFRS 16 "Leases"(3) - With IFRS 16 coming into force on
1 January 2019, the Group has recognized assets and liabilities for all the
leases included in this standard's scope. Its application has changed the
presentation of the Group's results, canceling lease charges to replace them
with repayments of lease liabilities and interest expenses. In addition,
earnings are affected by the depreciation and amortization recorded on the
rights of use recognized as assets on the balance sheet.

Application of IFRS 5 "Non-current Assets Held for Sale and Discontinued
Operations" 3- The Group has reclassified earnings for the directly-owned
stores sold in 2019 on a separate line on the income statement. The earnings,
assets and liabilities of six stores whose sale was considered highly likely on
the year-end reporting date and six subsidiaries holding the related real
estate assets, which have been sold or are in the process of being sold, have
been reclassified on the corresponding lines.

(3) The main impacts of these standards are detailed in the Annual Financial
Report.

Following the announcement of the final phases of the plan to divest the
directly-owned stores on 30 December 2019, the Retail business is presented in
accordance with IFRS 5 and the 2018 data have been restated to be comparable.
Under these conditions, the Group's turnover is up 2.5% from 2018 to EUR247.1m,
driven by growth in the Network Services business.

In line with the divestment plan, the Retail business represents EUR33.2m, down
16.4% from 2018. With the application of IFRS 5, turnover includes the balance
for the six stores that have not received offers from buyers at 31 December
2019.

With regard to online sales, the gradual closure of the Jardin de Catherine
site in 2019 masks the increase in the volume of business (+16.9%) for the
www.mrbricolage.fr e-commerce activity, which was completely reconfigured in
2018.

Effectively positioned to support the gradual integration of the previous
directly-owned stores and the growth in the member and affiliate networks, the
Network Services business recorded 6.2% growth in 2019 (EUR213.9m), driven by:

- The EUR11.5m (+8.6%) increase in sales of goods linked to the range changes,
the development of the own-brand "Inventiv" and the opening up of the
warehouses to the Briconautes and affiliate points of sale;
- The EUR1.0m (+1.5%) growth in services linked to the increase in the volume
of business and purchases for the networks' points of sale.

Current operating profit / operating profit

With the acceleration of the divestment plan and the internal measures to
reestablish Mr.Bricolage's financial position, and especially its strong
budgetary discipline, the current operating profit for 2019 is up 71.5% to
EUR11.4m, versus EUR6.6m in 2018. The six stores still included in the 2019
accounting scope generated an operating profit of EUR(5.1)m, while the Network
Services business recorded an operating profit of EUR16.5m thanks to the REBOND
Plan's effectiveness and the dedication shown by the network's entrepreneurs
with the directly-owned store divestment plan. The profit recorded by the
Network Services business takes into account the income generated by the
directly-owned stores before their divestment outside of the network, but does
not include all the assistance measures that will be rolled out for the
transformation of certain stores that are still part of the member network.

The application of IFRS 16, in force from January 1st, 2019, is reflected in a
slight adjustment of the current operating profit, transferring part of the
external lease charges (EUR6.4m) to depreciation (EUR6.3m). After taking into
account non-current operations for EUR(21.0)m, including restructuring costs
and depreciation relating to rights of use (EUR17.5m) on the one hand, and on
the other hand, fees linked to the implementation of the divestment plan and
the Group's refinancing (EUR3.5m), the operating profit came to EUR(9.6)m,
compared with EUR(21.4)m in 2018.

Net profit

Financial income and expenses came to EUR(6.5)m in 2019, the EUR(4.1)m change
is linked to the new syndicated credit agreement set up (EUR2.3m), the
application of IFRS 16 (EUR0.6m) and the writedown of financial assets
(EUR1.2m). Taking into account a tax expense of EUR(1.0)m and the EUR1.0m
contribution from associates, the profit after tax from continuing operations
totaled EUR(16.1)m, linked, for the final year, to the situation of the
directly-owned stores and the finalization of the divestment plan. After
factoring in the profit after tax from discontinued operations for EUR(10.3)m,
the net profit for the year represents EUR(26.3)m, compared with EUR(137.9)m in
2018.

Net debt

At 31 December 2019, the Group's net financial debt totaled EUR78.6m, compared
with EUR96.1m at end-2018. The Group has used its drawdown capacity under the
credit agreement from 16 October 2019. At 31 December 2019, the Group's net
debt excluding the impact of IFRS 16 came to EUR88.0m, versus EUR103.6m at
end-2018. The Group's cash position shows a significant year-on-year increase
to EUR34.2m, including its use of the EUR3.0m overdraft line, in accordance
with the Group's expectations.

III - OUTLOOK FOR 2020

The performances recorded by the Mr.Bricolage Group until 14 March 2020
confirmed a good start to the year. Today, during this health crisis, the
Group's priority is to protect the health of all its employees, customers and
partners. The Group is activating the various support measures for businesses
and will support each entrepreneur and each employee with the resumption of
their activities.

Following this period of very reduced activity, Mr.Bricolage aims to continue
moving forward with its modernization roadmap. Realigned around its core
"Network Services" business, in 2020, 40 years after the brand was launched,
the Group will move forward with four main goals, continuing to build on its
REBOND roadmap:

- Implementing the proposed shutdowns and closures for the final
directly-owned stores under the best possible conditions;
- Continuing to optimize network services and accelerating the development of
value-creating actions: renewing the product selection and pricing
management tools, standardizing the information systems, maintaining
marketing investments in the Inventiv brand and in-store footfall, and
deploying the new customer services platform;
- Continuing to develop the network of branded and affiliate stores to achieve
the ambition for 1,000 points of sale by 2028;
- Accelerating the rollout and implementation of the "4 pillars" concept
across the network. To date, 14 Mr.Bricolage stores offer the four retail
pillars.

Financial diary: Mr.Bricolage general shareholders' meeting: 19 May 2020. In
the current health context, the conditions for taking part in the general
meeting could evolve, if required. Shareholders are invited to regularly
consult the "General Meeting" section on the company's site
(www.mr-bricolage.com) in order to keep informed.

About Mr.Bricolage

The Mr.Bricolage Group, which develops the well-known brands Mr.Bricolage and
Les Briconautes, is the French specialist for local independent DIY retail. As
of January 31st, 2020, the Group counts 837 stores operating under the brands
or through affiliates, including 70 international stores spread in nine
countries. The Mr.Bricolage SA shares are listed on Euronext Growth Paris
(ISIN: FR0004034320 - ALMRB).